Are you shopping for a buy now pay later (BNPL) interest-free platform? Not all BNPL services are alike. This makes comparing your options all the more important. We’ve done the research for you, comparing Afterpay and Zip Pay. Remember to consider all costs, features and repayment flexibility before you make your decision.
Compare Afterpay vs zipPay
Afterpay
Zip Pay
Credit limit
Starts at $500 and gradually increases or decreases based on good or bad spending behaviour.
From $350 up to $1,000.
Interest
No interest.
No interest.
Repayments
To be made over 6 weeks.
To be made 1 calendar month after you receive your statement. A monthly account fee will apply if the balance is not paid by the due date.
Payment instalments
4 instalments, paid every 2 weeks; 25% of the price is paid upfront.
The option for no upfront payment is available for Platinum and Mint tiers and eligible accounts in the Pulse tier.
3 payment schedules are available.
The custom schedule allows you to pay however much you want according to your schedule. If you don’t pay the balance by the statement due date, the monthly account fee will come into effect. You’ll have to pay at least a minimum of $40.
The smart schedule calculates your repayment amount to enable you to pay your bill faster and keep the monthly fee down.
With the fee waiver schedule, you automatically pay the monthly balance to avoid the monthly fee.
Upfront and ongoing fees
None.
A monthly account fee of $7.95 may apply, depending on your payment schedule and if you repay before the statement due date. No fees will be charged for additional payments.
Late payment fees
The late fee starts at $10 and is never higher than 25% of the purchase price or $68, whichever is less.
A $5 late fee will be charged if you don’t make at least the minimum payment each month. This will be charged 21 days after your due date.
Payment flexibility
The number of instalments cannot be changed, but you can make custom payments and pay more or less than the payment due. This feature can be accessed only on the website.
You have the option of changing the frequency of your repayments. You can change it to weekly, fortnightly or monthly, so long as it covers the minimum amount owed.
Sign-up
Via app for in-store and online shopping. Registering prior to online shopping is not required; the account can be created afterwards.
Afterpay uses a mandatory ID verification process.
To qualify for Afterpay, you must:
✔️ Live in Australia.
✔️ Be over 18.
✔️ Have a valid and verifiable email address and mobile phone number.
✔️ Use a valid Australian credit or debit card.
✔️ Capable of entering into a legally binding contract.
To qualify for Zip Pay, you must:
✔️ Be over 18.
✔️ Be an Australian citizen or permanent resident.
✔️ Have a verified Facebook, PayPal or online banking account under your name.
✔️ Have a good credit history.
✔️ Have a valid and verifiable email address and mobile number.
Credit check and score
No credit check. Late payments are not reported.
Zip Pay may need to perform a credit check to confirm you can make repayments. They could disclose if you’ve met your payment obligations and if you’ve committed credit infringements to credit reporting bodies.
Elizabeth Barry is the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review.
PayPal Pay in 4 is a buy now pay later service available across thousands of retailers globally. Split your repayments into 4 equal instalments paid over 6 weeks.
Zip Money lets you shop interest-free at a range of participating retailers. Find out every retailer you can shop at with this innovative payments provider and exactly how to show with Zip Money.
With Zip Pay, you can get instant approval for a line of credit helping you to buy now and pay later. It is 100% interest-free and gives you complete control over how you make repayments. Find out exactly how it works.
Make large purchases by paying less with a Zip Money line of credit offering flexible repayment options, a long interest-free window and thousands of merchants to choose from. Find out if it's right for you.
Thanks for your comment. I hope you are doing well.
Zip Pay is a buy now pay later payment scheme that lets you purchase items you love and pay later how you choose to repay. You can choose a weekly, fortnightly, or monthly repayment schedule. A minimum monthly payment of $40 is required. You can learn more from our Zip Pay review page.
Hope this helps and feel free to reach out to us again for further assistance.
I thought they were the same thing until I saw this comparison. Thanks for doing that. Zippay seems to be a lot more complicated by the looks. The $6 monthly fee is charged the first day of the following month from the date of your purchase, which means if I purchased something on the last day of the month, the next day I will be charged a $6 fee?
The $6 is called a monthly fee that is applied only at the end of the following month from the date of your purchase. To avoid the $6 monthly fee, you need to pay off your purchase by the end of the month you receive your statement.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Though we are a comparison website, we do not provide specific product recommendations, we can help guide you through the process of comparing options. We are on the right page to compare both Afterpay and ZipPay but the decision still rests on your shoulders on what would be better for your business. Hope this helps!
I read on a reply that zipPay loans up to $1,000 but on Supercheap Auto site it says zipPay loans up to $8,000 then on another site it says $10,000. Which of these is actually correct?
Regarding your enquiry, I am afraid that you might have confused yourself between zipPay and zipMoney.
With zipPAy, you can get approved for up to $1000 only while with zipMoney, you can get approved for over $1,000 and they identify the maximum limit they can offer you, based on the information you provided. With zipMoney, if your approved limit doesn’t cover the cost of your purchase, you’ll need to make an additional payment (a copayment) at checkout. You may be eligible for a limit increase on your zipMoney account once you’ve been using your account for at least 6 months and have a history of successful repayments.
As a friendly reminder, we do not represent any company that we feature on our pages. It is best to contact zipMoney for further help/enquiries.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
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Need an answer quick (haha finance assignment) Is ZipMoney a ‘Buy Now Pay Later’ or a ‘Personal Loan?’
Hi Jack,
Thanks for your comment. I hope you are doing well.
Zip Pay is a buy now pay later payment scheme that lets you purchase items you love and pay later how you choose to repay. You can choose a weekly, fortnightly, or monthly repayment schedule. A minimum monthly payment of $40 is required. You can learn more from our Zip Pay review page.
Hope this helps and feel free to reach out to us again for further assistance.
With care,
Nikki
I thought they were the same thing until I saw this comparison. Thanks for doing that. Zippay seems to be a lot more complicated by the looks. The $6 monthly fee is charged the first day of the following month from the date of your purchase, which means if I purchased something on the last day of the month, the next day I will be charged a $6 fee?
Hello Alex,
Thank you for your comment.
The $6 is called a monthly fee that is applied only at the end of the following month from the date of your purchase. To avoid the $6 monthly fee, you need to pay off your purchase by the end of the month you receive your statement.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
Which is better for my business zip pay or after pay I sell standup paddle boards range in price from $800 to $1400 ?
Hi Ocean coast sup,
Thank you for your question.
Though we are a comparison website, we do not provide specific product recommendations, we can help guide you through the process of comparing options. We are on the right page to compare both Afterpay and ZipPay but the decision still rests on your shoulders on what would be better for your business. Hope this helps!
Cheers,
Reggie
I read on a reply that zipPay loans up to $1,000 but on Supercheap Auto site it says zipPay loans up to $8,000 then on another site it says $10,000. Which of these is actually correct?
Hi Mark,
Thank you for getting in touch with finder.
Regarding your enquiry, I am afraid that you might have confused yourself between zipPay and zipMoney.
With zipPAy, you can get approved for up to $1000 only while with zipMoney, you can get approved for over $1,000 and they identify the maximum limit they can offer you, based on the information you provided. With zipMoney, if your approved limit doesn’t cover the cost of your purchase, you’ll need to make an additional payment (a copayment) at checkout. You may be eligible for a limit increase on your zipMoney account once you’ve been using your account for at least 6 months and have a history of successful repayments.
As a friendly reminder, we do not represent any company that we feature on our pages. It is best to contact zipMoney for further help/enquiries.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
I’m just wondering what the maximum amount that you can spend on zipPay would be, please?
Thank you.
Hi Kerry,
Thank you for getting in touch with Finder.
The maximum loan amount in zipPay is $1,000. Check out our review page for zipPay interest-free payments to learn more.
I hope this helps.
Have a great day!
Cheers,
Jeni